So is it a right time to invest in an abode? Yes, according to Diann Patton, the Coldwell Banker consumer real-estate spokeswoman.

Despite all the other factors that may be out of whack at the moment, there are several encouraging elements in the market at the moment that make this an ideal buyer's market..

"For one, the number of homes on the market is at an all-time high," Patton said in a recent interview with wowOwow. "State and federal governments are offering a number of tax breaks that make many nervous buyers feel right at home. Interest rates have hit lows that we haven't seen since 1964. And home prices are at levels that were seen in 2003."

Congress has attempted to lure consumers when it passed legislation earlier this year that grants a tax break of up to $8,000 to virgin home buyers. The First-Time Home Buyer Tax Credit expires Dec. 1, and Realtor.com lays out the incentive in simplest terms.

In addition to Uncle Sam's generosity, approximately 13 states currently shell out cash or tax breaks for purchasing a home. States such as California, Kentucky and Pennsylvania have their own unique programs to appeal to both virgin and veteran shoppers. To see if your state is dangling money like a carrot, visit ThinkGlink.com, which offers brief descriptions on each program.

Tell us: Have you purchased a home recently? Did you land a nice tax break? Did you experience any difficulties securing a mortgage?

wowOwow.com is a Web site aimed at influential women over 40, much like its distinguished founders and contributors, which include Marlo Thomas, Lesley Stahl, Candice Bergen, Liz Smith, Joni Evans, Mary Wells and Whoopi Goldberg.